Weekly Insight -- NBU reserves down 3% in June
NBU gross international reserves edged down 2.9% in June to US$37.9bn on heavy FX market interventions by the NBU.
The NBU sold net US$3.0bn to smooth out imbalances in the FX market in June. This is the 7th largest monthly volume of interventions since the start of russia’s full scale invasion. Meanwhile, reserves were replenished thanks to an EUR1.9bn loan tranche from the EU within the Ukraine Facility. Repayments of debt to IFIs stood at US$0.4bn in June.
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